What's the Fascination With Becoming a Millionaire?
By meme0907
@meme0907 (3481)
United States
September 24, 2007 7:31pm CST
Here are some interesting facts about millionare's
One Million Dollars. A lot of people find those three words fascinating. In fact, the world is packed with people whose goal in life is to be a millionaire. Why? Why is a million bucks the be-all, end-all prize for so many people? According to USA Today, in the 1950s and 1960s, the American Dream was having a good job and owning a home. Today, being a millionaire is the new status symbol. It means you’ve arrived and the media’s great at fanning the flames of millionaire madness:
For example, TV shows with $1 million prizes are everywhere, like Deal or No Deal and Amazing Race. Network execs insist that viewers love to root for a “regular joe” to make it big.
Also, even though the odds of winning the lottery are 1 in 18 million, there’s a big winner in the news almost every week. So, wannabes keep buying tickets, figuring their luck has to change.
Get-rich-quick seminars are packed every week. One of the most popular is The Real Estate & Wealth Expo from The Learning Annex, with speakers like Donald Trump, and Anthony Robbins.
Realistically, is it still possible for anybody to become a millionaire? The short answer is “Yes.” The millionaire club isn’t as exclusive as it used to be. In the late 1800s, the so-called Gilded Age, there were only 4,000 millionaires in America. Today, there are over three million. Contrary to popular stereotypes, the well-to-do aren’t all jetsetters or rich kids born into money.
Financial advisors say that most millionaires are hardworking, self-made entrepreneurs from all walks of life who steadily built their wealth with smart investments and savvy business decisions. So, if being a millionaire is on your lifetime agenda – the single best way to get there is: To live below your means. Spend less than you earn, invest what you save, and your bank account can’t help but grow.
Have ideas or want to read how others are making money? Check out www.happybodiesmakemoney.com
1 person likes this
11 responses
@michecu (637)
• Philippines
25 Sep 07
Well, I think because so many of us want to be instant millionaires! But then there's so much hype to this because of the stereotype that if you have a million, you can do whatever you want to do -- you'll be considered rich and popular. However, if you do not know how to handle the money, a million can easily be lost. I think its better to get a million by hard work instead of playing in games of chance. When you work hard for the money, you will realize its value and you will learn to take care of the blessing. The tendency if you get a million with no sweat is to spend it overnight. But we all want to become millionaires anyway, so I think, the media is simply taking advantage of this desire.
3 people like this
@meme0907 (3481)
• United States
25 Sep 07
you make a really good point w/ your response-I've always felt tho' if I were to become rich I'd still buy the same stuff as I do now ie:shop at wal-mart etc... b/c those things satisfy me & as for jewelry I hate big jewelry I prefer small earrings & rings so I think I wouldn't change too much if I came into fast easy cash except for my house & car |;)
+'s |:)
@delladidit (466)
• United States
25 Sep 07
...One Million isn't enough to make it really big today. And there are as many ways to make a million dollars as there are websites advertizing it.
...The investments we have made in the past three months will net us over half a million. Some will come in Nov/Dec. and the rest will come next spring. By that time, we will have re-invested part of the first payout. My man is always looking for things to invest in. He has a knack and a friend high up in the investment world.
...One way to become wealthy is to hang out with wealthy people. One way to become smarter is to hang out with smart people.
...Invest in yourself and it will pay out! Peace be with you. =(^;^)= Della
2 people like this
@emmanola (482)
•
25 Sep 07
I think being or becoming a millionaire is fascinating but not as fascinating as it used to be. There are many reasons for this.
Firstly, the dollar as a currency has being losing its value fast, diminishing its purchasing power and influence, and making many persons who used to buy hard dollar currency as a form of safeguarding their savings to suffer great losses.
Secondly, being a millionaire mean different things to different persons. Many persons consider a millionaire using their country's currency as yardstick. For example, a Japanese who have at least one million yen is a millionaire; or isn't he? We all know that one million yen is not up to one million dollars.
Thirdly, the rise in the number of persons, especially in government and businesses, who amass wealth through illegal means is taking "shine" off the "millionaire club".
So, when one is talking about "millionaires", one should endeavor to expatiate the context in which one uses the word. I'm stressing this because of a real life example that I have. As at the end of June this year I was a millionaire because my monthly salary was over 6 million cedis (I live in Ghana, West Africa). From July 1, 2007, Ghana began a process of currency redenomination. Presently, 1 Ghana Cedi is the equivalent of the old 10000 Cedis. Now my old 6 million cedis is now just 600 new Ghana cedis! That's interesting.
I like to be a millionaire again and this is not a joke. For me, the ways to become a millionaire is through, diligence, discipline, taking advantage of opportunities, ability to assess risks and take the right decisions, living below one's means, savings and transferring one's savings into good investments that suit one's situation, and prayer with contentment. I never want to be rich in a wrong manner. My philosophy is based on the bible: "The blessing of the Lord maketh rich and addeth no sorrow unto it.
1 person likes this
@candiec2005 (828)
• United States
25 Sep 07
That's interesting. I do that! I live below my means and spend less than I earn. Who knows? Maybe in a few years I'll be a millionaire! I'll let you know if it does come true.
1 person likes this
@ssf12ster (488)
• India
25 Sep 07
your fascination is an imagination here.why want be one if u cant become one?
they r e few bunch of guys who have immense luck in this world.
luck is the word and what is written in your fate! nobody an change it.whatever will happen ,will happen and tats it.
1 person likes this
@chikkadee (372)
• Australia
25 Sep 07
First off, I think a million dollars buys less than it used to, so thats probably why a lot of people aim for it. It is within a normal persons grasp as long as they put their head down and their bum up.
Secondly, I think its attractive not only because its an easy big round number, but also because people crave security more than anything else. Before it was the family home and the job you had for 40 years as the stability and security benchmark, but now we dont have those things anymore so people are trying to create safety and security with the only thing they can - Money.
Having a family home forever is not a given anymore, divorce rates, fluctuating markets, debt levels are so high, and people change from job to job nowadays so there is no job security. The only way people can manage anymore is if they have their bucks in a bank ready for when they need it.
1 person likes this
@paul8675 (750)
• Australia
26 Sep 07
The words ring like someone will no longer have a care in the world. They have made it. Interestingly, with inflation pushing up wages, and prices, a million is now nowhere near as much money as it used to be and is therefore more achievable for many more people.
1 person likes this
@wisedragon (2325)
• Philippines
25 Sep 07
Well, inflation should have been factored into those statistics. In the 1800s a million dollars was worth far more than a million dollars today. In fact the US Dollar is now at an all-time low versus the Euro.
I agree with your formula for becoming a millionaire -- that is, save what you earn then invest it wisely.
However, allow me to suggest improvements that would make us even bigger "winners".
Why live below your means? Increase your means so you can still live the life you want.
Why aim to be a millionaire? Aim to be a billionaire so that if you fail, you'll still be a millionaire!
@Bunsdk (242)
• Denmark
25 Sep 07
Well I dont get it either :D
One million dollars... its a lot of cash, but its not really all that much to me.
For me to have success and happy life is nothing more than feeling that. Its not being rich, poor, religious or what not.
If Im content with what I have and do, I dont really need much else.
Ive seen rich ppl not more happy than me, just less financially dependant or free.
They can do what they want when they want... but that sure doesnt make me more happy, just gives me more options.
@angemac23 (2003)
• Canada
25 Sep 07
I think people think that having a lot of money will bring them happiness and they can buy whatever they want when they want. I guess it would be like that initially, but can you imagine if everyday you woke up you went out and did everything you wanted and got everything you wanted without any effort? Life would get pretty boring I would think! I like a good challenge myself and working for the things I want in life!
